Everest
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The executive will replace Stephan Knipper, who is retiring after a 33-year career.
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The executive will work closely with international CEO Vincent Vandendael in the new post. -
Everest, Swiss Re, Aspen and other reinsurers were accused by Integrand of delaying payment of claims from Irma and Maria.
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The issues lag the size of expiring ILS cover for both carriers.
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Part of the cost of the disaster will likely fall on a builder’s risk policy written by the two carriers.
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International CEO Vandendael predicts staff numbers in London and Dublin will rise by about a quarter in 2020.
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The £177mn of 2020 capacity includes paper for medical SPA 1892.
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The carrier has appointed four senior underwriters across the liability division.
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The move reflects parent Everest Re’s diversification drive into primary specialty insurance.
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The reinsurer is expecting the segment to see at least double-digit rate increases.
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CEO and his soon-to-be replacement believe current market conditions play into the growing company’s hands.
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Third quarter 2019 net investment income was $181mn, up 12.2 percent year on year.
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